BTC fighting the top of the GC

1 thg 11, 2022

Addition to my last BTC analysis,

BTC is fighting the top of the GC on the daily. We can see that this has not been successfully defeated for a while. A break out above that and the 100 DSMA which converge at approx the same levels will be important if the bulls where to stand a chance.

Reminder that these days Macro is king.

Keep eyes on announcements coming out this week:

Wednesday (tomorrow): FOMC rate announcement; +75 bps expected. lower would be extremely bullish. maintaining 75bps although already priced in will bolster DXY and negatively affect markets. Also, #FOMC statement and language used will be carefully analyzed for tone. (hawkish vs a little dovish)

Thursday: BOE rate announcement: likely worsening conditions there and in the EU

Friday: US unemployment: counter-intuitively, lower unemployment will be bad for the markets.